Markets

US Cash Soymeal-Offers flat; demand steady to firm

Published Updated

Demand was mostly steady, but a dealer in the Kansas City market noted an uptick in end-user activity.

Soymeal basis offers in that area, while higher than in recent months, were still trending near five-year lows.

Dealers continued to roll their basis offers to the Chicago Board of Trade July soymeal futures contract to the July contract.

In Frankfort, Indiana, a processor took the whole spread, about $4, between the two contracts when rolling.

At 8:49 a.m. CDT (1349 GMT), CBOT May soymeal futures were down 50 cents at $310.30 a bushel and CBOT July soymeal was 60 cents lower at $314.60 a ton.

 

Copyright Reuters, 2017